Nuance Mid Cap Value Fund Institutional CL · NASDAQ:NMVLX
Nuance Mid Cap Value Fund Institutional CL — Nuance Investments — FY2016 Earnings Presentation
14 slides from Nuance Mid Cap Value Fund Institutional CL's earnings presentation, 2017
Slide 1: Semi-Annual Call: Nuance Mid Cap Value
Value. Delivered. Nuance Investments, LLC Semi-Annual Call: Nuance Mid Cap Value Scott Moore, CFA President & Chief Investment Officer
Slide 2: Agenda
Agenda • Firm Overview • Team Update • Process Summary • 2016 Review • 2017 Outlook • Conclusion © 2017 Nuance Investments · LLC www.nuanceinvestments.com Page 2
Slide 3: Nuance Investments
Nuance Investments • Nuance Investments, LLC (Nuance) is a boutique classic value firm headquartered in Kansas City, MO with approximately $1.5 billion in assets1. • Nuance was founded in 2008 with the belief that focusing on future return potential is actually more important than attractive histori
Slide 4: Nuance's Investment Team
Nuance’s Investment Team President & Chief Investment Officer Vice President & Portfolio Manager Scott Moore, CFA Chad Baumler, CFA Scott.Moore@nuanceinvestments.com Chad.Baumler@nuanceinvestments.com Experience Experience • 25+ years of investment analyst experience • 9 years of investment analyst
Slide 5: Nuance's Investment Philosophy & Process
Nuance’s Investment Philosophy & Process Investing in leading business franchises trading at a discount to fair value can generate excess returns over time Proprietary Proprietary Quantitative Competitive Financial Portfolio Valuation Screening Analysis Statement Construction Study Analysis © 2017 N
Slide 6: Nuance Mid Cap Value Review
Nuance Mid Cap Value Review Nuance Mid Cap Value November 3, 2008 - December 31, 2016 Since Since YTD 3 Years 5 Years 7 Years Inception Inception 2016 1 Year APR APR APR APR TR Nuance Mid Cap Value Composite (Gross) 21.87 21.87 11.27 17.89 16.24 17.83 281.36 Nuance Mid Cap Value Composite (Net) 21.0
Slide 7: Nuance Mid Cap Value Review Since Inception APR
Nuance Mid Cap Value Review Nuance Mid Cap Value November 30, 2008 - December 31, 2016 Since Inception Since Inception Since Inception APR Standard Deviation (A) Sharpe Ratio (A) Nuance Mid Cap Value Composite (Gross) 18.87 14.20 1.32 Nuance Mid Cap Value Composite (Net) 18.03 14.23 1.26 Morningstar
Slide 8: 2016 in Review
Nuance Mid Cap Value 2016 in Review Overall Performance: • Nuance Mid Cap Value up 21.1% (net of fees) versus Russell Mid Cap Value Index up 20.0% • Nuance Mid Cap Value has now outperformed its primary benchmark 6 out of the 8 full years it has been in existence • As of 12/31/2016, Nuance Mid Cap V
Slide 9: 2017 Outlook
2017 Nuance Mid Cap Value Outlook Issues Leading to Opportunities and Risks • Opportunities continue to exist but the group is narrower – normal late cycle issue • Leverage at non-finance companies 2017 Positive Risk Reward Themes: • Select Healthcare: PDCO & SNN • Select Energy and Services: FI & S
Slide 10: Why Nuance?
Why Nuance? • Consistent and Experienced Team • Consistent Time Tested Process • Consistent Performance both Absolute and Risk-Adjusted Value. Delivered. © 2017 Nuance Investments · LLC www.nuanceinvestments.com Page 10
Slide 11: Disclaimer and Notes
Disclaimer and Notes Not An Offer or Inducement Nuance Investments, LLC’s (Nuance or the Company) presentation book has been prepared for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in the Company or any related or associated company. Any
Slide 12: Disclaimer and Notes Continued
Disclaimer and Notes Continued deviation for the peer group. The top ten returns for the latest three-year period then become the TOP GUNS. 6 STAR CATEGORY: Products must have returns greater than the style benchmark for the three latest three-year rolling periods. After that we select only the prod
Slide 13: GIPS Compliance Disclosures
GIPS Compliance Disclosures 3 Year Nuance Mid Cap Value Composite Number of Annualized 3 Year Separate Standard Annualized Gross Net of Benchmark Benchmark Composite Accounts Total Composite % of Non- Deviation Standard of Fees Fees Return Return Dispersion (End of Assets Total Firm Assets Fee Payin
Slide 14: GIPS Compliance Disclosures Continued
GIPS Compliance Disclosures Continued $100 million, and .65% for clients with assets greater than $100 million. Nuance reserves the right to modify fee structures on an account by account basis at its discretion. The firm does not currently assess any Performance Based Fees. From the inception of ea